Reinsurance News
Sompo releases travel insurance product in Thailand with Slice Labs
17th January 2020
Sompo Holdings (Asia), part of international insurer Sompo Holdings, has partnered with Slice Labs, an on-demand insurance platform, to release a joint travel insurance product in Thailand called TravelJoy. The product will include life and medical, flight delay/cancellation, and baggage/belongings coverage, and will be made available using the LINE LIFF Platform. “SOMPO’s ... Read the full article
Insurance Europe calls for more focused Solvency II review
17th January 2020
Insurance Europe, the European insurance and reinsurance federation, has levelled a number of criticisms against the 2020 review of Solvency II recently drafted by the European Insurance and Occupational Pensions Authority (EIOPA). Analysts argue that the draft advice provided by EIOPA includes a very large number of ideas and proposals, some ... Read the full article
Castel adds Arch’s Raoul Carlos as head of specialty
16th January 2020
Club-style MGA formation platform Castel Underwriting Agencies has appointed Raoul Carlos as head of specialty. The appointment comes as the firm looks to structure its underwriting cells and MGAs into a number of ‘centres of excellence focused’ on core classes of business. Carlos will lead the centre and oversee the strategy and ... Read the full article
Cryptocurrency firm Gemini sets up captive insurer in Bermuda
16th January 2020
Gemini Trust Company LLC, a cryptocurrency exchange and custodian, has set up a captive insurance company in Bermuda, with support from re/insurance brokers Marsh and Aon. Licensed by the Bermuda Monetary Authority (BMA), the captive will provide insurance for customers of Gemini Custody, the crypto cold storage service by Gemini. The solution ... Read the full article
Deloitte’s Ian Jacob takes on Group Chief Risk Officer role at Aston Lark
16th January 2020
Goldman Sachs backed insurance broker, Aston Lark, has added Ian Jacob from Deloitte as Group Chief Risk Officer, a newly created role. He joins the firm after spending 13 years with Deloitte, where he served as a Director in the Insurance Regulation and Strategy Team with a focus on governance, regulatory ... Read the full article
Allianz opens historic insurance holding company in China
16th January 2020
Global insurer Allianz has opened China’s first fully foreign-owned insurance holding company. Based in Shanghai, it’s hoped the company will support Allianz’ growth ambitions in the country by enhancing its strategic and financial flexibility. Its opening follows recent business registration with the Shanghai Market Administration and Registration Bureau and earlier regulatory ... Read the full article
Allstate’s 2019 cat losses down after quiet end to year
16th January 2020
The Allstate Corporation has announced that catastrophe losses in the month of December reached $25 million (pre-tax), taking its fourth-quarter 2019 estimated cat loss total to $295 million (pre-tax). Combined with the firm's loss experience throughout the rest of 2019, Allstate's 2019 catastrophe loss bill stands at approximately $2.6 billion, which ... Read the full article
The Hanover’s Q4 non-cat property losses above expectations
16th January 2020
The Hanover Insurance Group, Inc. has revealed that it expects its fourth-quarter 2019 non-catastrophe property losses to exceed expectations by roughly $20 million, pre-tax. The holding company states that the losses were mainly driven by non-catastrophe weather activity in homeowners, and also large property losses in commercial multiple peril and certain ... Read the full article
Liberty Insurance to quit Irish commercial liability market
16th January 2020
Liberty Insurance is set to withdraw from the commercial liability, commercial property and development bonds markets in Ireland, according to reports from RTE. The company said the decision would enable it to focus on developing products and lines of business that fit better with its wider business objectives. Changes are due to ... Read the full article
AXA XL strengthens pricing team with hires from Beazley & AIG
16th January 2020
AXA XL, the property and casualty and specialty risk unit of AXA, has named Katy Bradica as Head of Pricing, Long Tail, and Mary Latham as Head of Pricing for Global Specialty. Latham brings two decades of actuarial experience to the role, and joins the global insurer and reinsurer from specialty ... Read the full article
Carey Olsen Bermuda adds Michael Frith to corporate practice
16th January 2020
Law firm Carey Olsen Bermuda has announced the appointment of Michael Frith to the firm’s corporate practice. Frith previously served with global offshore law firm Conyers and specialises in all aspects of Bermuda corporate law. He is a member of the Insurance Advisory Committee, advising the Bermuda Ministry of Finance on matters ... Read the full article
Chubb endorses Phase One of US-China trade agreement
16th January 2020
Global re/insurance firm Chubb has issued a statement endorsing the completion of the Phase One trade agreement between the United States and China. The agreement, signed yesterday by US President Donald Trump and China’s chief negotiator, Liu He, aims to defuse parts of the trade conflict that has developed between the ... Read the full article
Avatar to acquire Centauri’s coastal underwriting units
16th January 2020
Avatar Partners LP, the parent of Florida's Avatar Property & Casualty Insurance Company, is set to acquire Centauri Specialty Insurance Company and its Louisiana-based subsidiary, Centauri National Insurance Company. Centauri Specialty Insurance Company is part of Centauri Specialty Insurance Holdings, Inc., a Delaware-based holding company. The firm was established in 2006 in ... Read the full article
Swiss Re CorSo names Sergio Bunin CEO of Mexico
16th January 2020
Swiss Re Corporate Solutions (Swiss Re CorSo), the commercial insurance arm of reinsurance giant Swiss Re, has announced the appointment of Sergio Bunin as Chief Executive Officer (CEO) of Mexico, effective January 15th, 2020. Bunin has worked in the industry for more than three decades and has spent the majority of ... Read the full article
State Farm’s venture arm invests in Cape Analytics
16th January 2020
State Farm Ventures, the venture arm of U.S. P&C insurer State Farm, has made a significant investment in Cape Analytics, a provider of AI-powered geospatial property data. Cape Analytics is set to use the proceeds from the investment to accelerate the development of ground-breaking solutions for property insurance firms, utilising geospatial ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
